Features

On 6th September Canada’s Enbridge announced its intention to acquire Texas-based Spectra Energy, a gas distributor. The buyer offered a price of USD 40 apiece, which represents a 12 per cent premium over the target’s close of USD 36 on 2nd September, the last trading day prior to the deal being announced. The acquisition is worth around USD 28,000 million and is Enbridge’s largest to date, according to Zephyr, the M&A database published by Bureau van Dijk.

Hong Kong Stock Exchange-listed China Zhongwang this week agreed to acquire aluminium products maker Aleris. The purchaser will pay USD 2,330 million as consideration for the takeover, which includes net debt. According to Zephyr, the M&A database published by Bureau van Dijk, the deal is the largest among those targeting aluminium production companies to have been announced since 2007.

Canada-based Couche-Tard this week signed an agreement to acquire CST Brands, a petrol station operator. With the assumption of net debt, the deal can be valued at about USD 4,400 million. According to data compiled by Zephyr, the M&A database published by Bureau van Dijk, the transaction is the largest among those that involve motor fuel retailers as targets since 2007.

At the time of writing there have been 20 European angel investments worth a combined EUR 18 million signed off in August 2016 to date. These figures are undoubtedly disappointing and mean there is a mountain to climb in the next nine days if results are to reach the same levels as in July, which it must be noted, was also a disappointing month when compared to those which preceded it.

The cash-strapped New South Wales (NSW) government has in recent years been seeking to offload its electricity assets via several transactions, with the privatisation of Ausgrid being one of those currently in the pipeline. The 50 per cent stake in the power transmission and distribution company can be valued at around AUD 10,000 million (USD 7,624 million), according to the Guardian. Proceeds from the sale will be used to reduce debt and finance infrastructure projects.

On 8th August Wal-Mart announced a deal to buy Amazon rival Jet.com, an e-commerce start-up. The consideration was reported to be around USD 3,300 million, which will be settled in a combination of cash and shares. Following the transaction, Jet.com’s co-founder Marc Lore will join Wal-Mart as chief executive to oversee both companies, which will continue to operate as separate brands.

Last month, information technology giant Microsoft agreed to purchase business-focused social networking firm LinkedIn for around USD 26,200 million. Under the terms of the acquisition, Microsoft will pay USD 196 per share in cash, which represents a 50 per cent premium over the target’s close of USD 131 on 10th June, the last trading day prior to the deal being announced.